Monday, January 9, 2012

Recession Watch: The Coming Euro/Oil Crisis and a Possible Climateer Headline of the Day: August 1914 Edition

If carbon hadn't already crashed this would be a dandy sign that it was going lower. As things stand right now the EU is trying to remove surplus emmissions permits from the system in a desperate attempt to increase prices.
So much for your "market based solutions".

That would be echoes of the 2008 record oil price. This time, only for Europe.
As Jakob notes:

There is currently not one day where we do not publish
the chart of Brent in Euro/bbl and this is because we do think that the
record prices for oil in Euro/bbl will be the next leg of the European
crisis. The current record oil prices for European consumers
will morph into a new energy crisis for Europe and it will hit both
consumer sentiment and disposable income right at the time when
austerity measures will kick in....